The cryptocurrency of choice that saw a jaw-dropping run in 2017 has been getting pummeled since the new year. Today it dropped to as low as $7,923, reports CNBC. It was just in December that bitcoin’s value soared to $20,000 per coin. But since then its fortunes have slumped, falling below the $8,000 mark today since the first time since November 24. The reason for the fall is mostly blamed on heightened fears of government regulation of cryptocurrencies as they grow in popularity, says CityA.M.